Key Takeaways
- Brazil’s securities regulator has permitted a Solana-based ETF managed by Hashdex and BTG Pactual.
- Hashdex beforehand launched ETFs linked to Bitcoin, Ethereum, and the Nasdaq Crypto Index.
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Hashdex, a recognized participant within the crypto asset administration house, will launch an exchange-traded fund (ETF) that gives traders with publicity to Solana (SOL), as proven within the database of Brazil’s Securities and Change Fee (CVM), which has permitted the product.
The ETF, referred to as the “Hashdex Nasdaq Solana Index Fund,” continues to be in its pre-operational section, the CVM database reveals. Meaning the fund is within the means of finalizing its setup earlier than being absolutely operational and open to traders.
The ETF might be managed by Hashdex in collaboration with BTG Pactual, a serious native funding financial institution.
Hashdex, with belongings over $962 million, has been energetic within the crypto ETF market since its founding in 2018. In 2021, Hashdex launched the world’s first crypto index ETF, the Nasdaq Crypto Index (NCI). The agency can be behind Brazil’s first ETF primarily based on a crypto index.
Along with merchandise tied to the Nasdaq Crypto Index, Hashdex has expanded its choices to incorporate crypto belongings like Bitcoin and Ethereum. The agency lately filed for a pioneering twin Bitcoin and Ethereum ETF with the US Securities and Change Fee (SEC).
The approval follows the acceptance of the nation’s first Solana ETF by QR Asset on August 8. Whereas Brazil reveals rising curiosity in diversified crypto investments, the US is extra hesitant regardless of latest progress with spot Bitcoin and Ethereum ETFs.
In June, VanEck and 21Shares filed for spot Solana ETFs within the US, aiming to record on the Cboe BZX Change regardless of Solana’s classification as a safety by the SEC.
Nevertheless, sources aware of the state of affairs lately informed The Block that the SEC had rejected Cboe’s 19b-4 filings for Solana ETFs of VanEck and 21Shares. That was probably the explanation behind the elimination of those filings from the Cboe.
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